Ord 2007-007 - Laserfiche WebLink

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(d) The prmclpal of each Certificate shall be paid to the person m whose name such Certificate IS registered on the due date thereof (whether at the matunty date or the date of pnor redemptlOn thereof) upon presentatlOn and surrender of such CertIficate at the Designated Payment/Transfer Office (e) If a date for the payment of the pnnclpal of or mterest on the Certificates is a Saturday, Sunday, legal hohday, or a day on which bankmg 1OstltutlOns m the city m which the Designated PaymentJTransfer Office IS located are authonzed by law or executIve order to close, then the date for such payment shall be the next succeedmg day which IS not a Saturday, Sunday, legal hohday, or day on which such bankmg mstItutlOns are reqUlred or authonzed to close, and payment on such date shall have the same force and effect as If made on the ongmal date payment was due (f) Subject to Title 6, Texas Property Code, as amended, Unclaimed Payments remammg unclaimed for three years after the apphcable payment or redemptlOn date shall be paid by the Paymg Agent/Registrar to the City, to be used for any lawful purpose Thereafter, neither the City, the PaY10g Agent/Registrar, nor any other person shall be hable or responsible to any Owners of such Certificates for any further payment of such unclaimed moneys or on account of any such Certificates, subject to any apphcable escheat, abandoned property, or similar law Section 3 04 ExecutlOn and ImtIal ReglstratlOn (a) The Certificates shall be executed on behalf of the City by the Mayor and Intenm City Clerk of the City, by their manual or facsimile signatures, and the official seal of the City shall be Impressed or placed m facsimile thereon. Such facsimile signatures on the Certificates shall have the same effect as If each of the Certificates had been signed manually and m person by each of said officers, and such facsimile seal on the Certificates shall have the same effect as If the offiCial seal of the City had been manually Impressed upon each of the Certificates (b) In the event that any officer of the City whose manual or facsimile signature appears on the Certificates ceases to be such officer before the authentlcatlOn of such Certificates or before the dehvery thereof, such manual or facsimile signature nevertheless shall be vahd and sufficient for all purposes as If such officer had remamed m such office (c) Except as proVided below, no Certificate shall be vahd or obhgatory for any purpose or be entitled to any secunty or benefit of thiS Ordmance unless and until there appears thereon the Certificate of PaY10g Agent/Registrar substantially m the form provided m thiS Ordmance, duly authenticated by manual execution by an officer or duly authonzed representative of the PaY10g Agent/Registrar It shall not be reqUlred that the same authonzed representative of the Paymg Agent/Registrar sign the Certificate of Paying Agent/Registrar on all of the Certificates In heu of the executed Certificate of Paymg Agent/Registrar described above, the Imtlal Certificate dehvered on the Closmg Date shall have attached thereto the Comptroller's ReglstratlOn Certificate substantially m the form proVided 10 thiS Ord1Oance, manually executed by the Comptroller ofPubhc Accounts of the State of Texas or by hiS duly authonzed agent, which certificate shall be eVidence that the Imtial Certificate has been duly approved by the Attorney General of the State of Texas and that It IS a vahd and bmdmg obhgatlOn of the City, and has been registered by the Comptroller of Pubhc Accounts of the State of Texas (d) On the Closmg Date, one ImtIal Certificate represent10g the entire principal amount of the Certificates, payable m stated 10stallments to the Purchaser or ItS designee, executed by manual or facsllnile San Marcos CTRCO 2007' Ordinance 7